In this week’s selected cryptocurrency- and blockchain-related news from Cointelegraph Turkey, President Recep Tayyip Erdogan directed the government to finish testing a national central bank digital currency (CBDC) next year and a fraud saw up to 40 people losing 600 Bitcoins (BTC) — equivalent to roughly $5.2 million. Digital lira to be internalized next year The Presidential Program published by Turkey’s official national publication Resmi Gazete on Nov. 4 established that the government should complete the test phase of the nation’s CBDC by the end of 2020. The government plans to develop a platform capable of instant payments employing the …

Turkey's President Recep Tayyip Erdogan directed that the government should finish testing the national central bank digital currency (CBDC) in 2020. The country’s national blockchain-based digital lira is planned to be issued by the Central Bank in accordance with the 2020 Annual Presidential Program, Cointelegraph Turkey reported on Nov. 5. Digital lira ‘instant payment’ pilots should be finalized by the end of 2020 Published on Nov. 3, the Presidential Program specifies that the first trials of the digital lira should be conducted and finalized by the end of 2020, according to a document published by Turkey’s official national publication Resmi …

In this week’s selected cryptocurrency- and blockchain-related news from Cointelegraph Turkey, the Turkish edition of Cointelegraph launched, Binance CEO Changpeng Zhao announced that he will be visiting Turkey to speak at the Capital Market Summit in November, and a Turkish CEO is convinced that Bitcoin (BTC) ads during soccer games are the right tool to bring BTC to the masses. Here is the past week of crypto and blockchain news in review, as originally reported by Cointelegraph Turkey. Cointelegraph opens new office in Istanbul, Turkey On Oct. 24, Cointelegraph’s global coverage expanded again with the launch of its Turkish edition. …

Changpeng Zhao, CEO of major cryptocurrency exchange Binance, will be speaking at the Turkish Capital Markets Summit 2019. On Nov. 1, Cointelegraph Turkish reported that Zhao, also known as CZ within the crypto community, will be going to Turkey to attend and speak at the Capital Market Summit, which will be held in Istanbul from Nov. 19–20, 2019. The event also includes members of Turkey’s presidential administration. Dr. Ali Taha Koç, the Head of the Digital Transformation Office of the Presidency of the Republic of Turkey and Arda Ermut, the Head of the Investment Office of the Presidency are both …

Cointelegraph’s global reach is growing with the launch of its Turkish edition today, October 24. This signals Cointelegraph’s continued expansion as we open our new headquarters in Istanbul. Turkish editor Erhan Kahraman will lead the charge, building a team that delivers relevant news to the crypto and blockchain communities in this part of the world. Here’s what you need to know. With a population of 82 million people, this country bordering the Mediterranean and Black Seas is an established early adopter for cryptocurrency and blockchain technologies. According to a report by Statista, 20% of Turks are familiar with crypto in …

Singapore-based crypto exchange Huobi will launch a fiat gateway for the Turkish lira in late 2019. Huobi’s fiat onramp for lira will be the first fiat gateway launched by a global exchange, Huobi Global claimed during the opening event at the Eurasia Blockchain Summit on Oct. 18. During the inaugural event hosted by Huobi Global, the company also revealed more information about its expansion into Turkey. Specifically, Huobi unveiled the successful establishment of a local team, localized language option, mobile application, exclusive trading fees as well as a detailed strategy for Huobi Turkey. By launching the gateway, Huobi will enable …

Blockchain technology has proven to be a catalyst of change across a wide variety of industries in the years since Bitcoin’s (BTC) inception in 2009. The subsequent creation of various blockchain projects and alternate cryptocurrencies has shown that blockchain technology can provide innovative changes across a broad spectrum. The worlds of finance, logistics and even law has directly benefited from the various applications of blockchain technology. Another sector that is beginning to embrace its potential benefits is education. Educational institutions are a vital cog in the development of new technology and the industry certainly hasn’t lagged behind in terms of …

The Turkish government has announced plans to establish a national blockchain infrastructure to utilize distributed ledger technology (DLT) in public administration. The Ministry of Industry and Technology set out its vision during its Strategy 2023 presentation on Sept. 18 in Ankara. Strategy 2023 emphasizes blockchain and DLT as priorities for the coming year. The document refers to a Startup Genome survey that marks blockchain as one of the fastest-growing tech trends, with a 101.5% increase in early stage startup funding globally. Regulatory sandbox for blockchain is coming The Strategy 2023 document says a new open-source platform for blockchain will be …

Turkey's Istanbul Clearing, Settlement and Custody Bank (Takasbank) has announced its blockchain-based platform for trading physical gold. Dubbed BiGA, Takasbank’s new project aims to enable people to transfer physical gold stored at the Borsa Istanbul Stock Exchange (BIST), Turkey's sole exchange entity, through digitized gold units on a blockchain, the bank announced on Sept. 6. The units, which are similar in form and function to physically-backed stablecoins, have their value tied to the traded gold. As “BiGA” is the Turkish abbreviation for one gram of gold, one BiGA is equivalent to one such amount, according to the project’s website. Turkey’s …

The government of Turkey has included a central bank-issued digital currency in its 2019–2023 economic roadmap published on July 9. As per the 11th Development Plan from the Presidency of the Turkish Republic, “Blockchain-based digital central bank money will be implemented.” In addition to a central bank digital currency, the development plan lists blockchain adoption in the operations of transportation and customs. It further notes that public services and administration can be improved by emerging technologies such as big data, artificial intelligence and blockchain. Turkish Vice President Fuat Oktay presented the plan to the parliament’s Planning and Budget Commission, saying, …

Huobi exchange will expand its operations to Turkey, planning to have a crypto-to-fiat onramp for Turkish users by the end of 2019, according to a press release on June 26. The Singapore-based crypto exchange will be “moving aggressively” to the Turkish market over the next 12 months, since the country has a “very important and promising prospective market,” Huobi Global CEO, Livio Weng, said in a Huobi-sponsored meeting in Istanbul. According to the press release, Huobi’s new expansion plans include not only a fiat on-ramp for Turkish lira (TRY), but also localized products, customer services, as well as launching a …

Turkish Bahçeşehir University (BAU) has reportedly opened a blockchain center at Boston's Northeastern University (NEU) to provide informational support on blockchain technology, Daily Sabah reports on May 7. Apart from informational support, the BAU–NEU Blockchain Laboratory's objective is to apply for funds in the United States, the European Union and Turkey, thus boosting Turkey's presence in the blockchain market and attract specialists in the field. Commenting on the cooperation, Chair of the BAU Board of Trustees Enver Yücel said that he would also like to start blockchain-related master and doctoral education programs in partnership with the Turkish Exporter's Assembly. Bora …